Blue Source Acquires Baseline Emissions Management as Canadian Provinces Expand Carbon Markets
Salt Lake City /Calgary, Alberta – February 13 2008 – Blue Source, LLC, North America’s leading portfolio of greenhouse gas Verified Emission Reductions (VERs) and Carbon Capture and Storage (CCS) projects, today announced it has acquired Baseline Emissions Management Inc., an emission offset marketing and consulting group operating in Canada’s provincial carbon trading markets.
The merger is an example of the opportunities that exist between the closely linked US and Canadian economies and global approaches to climate change. Baseline’s industry position in Canada is a great compliment to Blue Source’s US position and brings valuable experience in emission offset marketing and offset protocol development.
Since its founding in 2003, Baseline’s management team has developed leading experience in carbon marketing, working with progressive companies across five Canadian provinces to identify and market emission offsets. In 2007 it began marketing emission offsets in Alberta through Canada’s only baseline and credit system. The company represents a supplier portfolio of more than ten million tonnes of emission offsets. Baseline’s supply of carbon emission offsets are largely created from projects involving biomass facilities, renewable energy projects, landfill gas capture and utilization, and agricultural-based emission reductions.
Blue Source has been a US carbon market leader for more than 10 years, developing more than 11 different types of emission reduction projects in 48 US states. It is a leader in developing emission reduction projects and has a carbon offset portfolio of hundreds of millions of tonnes of VERs. The company’s management team has led development of US-based CCS projects having developed, owned or operated all five such systems built in the last 20 years.
The acquisition will create Blue Source Canada, which will work with Canadian businesses to create, identify and market emission reductions. The Baseline management team of experienced carbon market professionals will remain with the company and continue to expand their service offerings to Canadian corporations. Blue Source Canada will further be a source of experience as additional provincial or federal programs are adopted across Canada.
“This acquisition enables Blue Source to benefit from Baseline’s experience in Alberta, the first regulated compliance market in North America,” said Blue Source President Greg Spencer. “We look forward to developing Blue Source Canada into a nationwide resource of emission reduction solutions that will deliver real and lasting opportunities to businesses in Canada.”
Blue Source Canada will have a combined expertise, offering Canadian corporations a greater source of climate change solutions, building on the work already accomplished. It further offers Canadian corporations access to Blue Source’s unparalleled commitment of investment capital for funding new emission offset projects.
“This acquisition will allow rapid expansion of our project capabilities and technical consulting services for Canadian corporations,” said Baseline co-founder Dave LaBarre, now president of Blue Source Canada. “This will enable information flow across borders, which enhances our ability to find the greatest value for our customers.”
About Blue Source, LLC
Blue Source is the answer for forward-thinking businesses, offering multiple approaches for addressing climate change. The company is organized into a portfolio group, responsible for marketing and managing the carbon offset portfolio and sourcing new offset projects and a separate project development group, responsible for identifying, designing, developing and managing all projects within Blue Source. The company is leading development of a “carbon highway,” through investment in infrastructure to capture and transport carbon dioxide for long-term geologic storage. Offsets are offered to wholesale buyers and to financial markets. Blue Source has offices in Salt Lake City, Houston, Denver, Raleigh, San Francisco and New York.
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